Dru Armstrong, the CEO of AffiniPay, discussed the shift towards digital payment methods as businesses started operating in person again post the COVID-19 pandemic in a recent interview with American Banker. She emphasized how small businesses faced challenges in keeping up with this transformation. Despite initial apprehensions regarding the potential time and cost involved in changing payment methods, many small firms realized the benefits of receiving payments digitally at the point of service instead of through traditional methods like mailing invoices.
AffiniPay, a fintech company based in Austin, Texas, has been providing online payment acceptance services and software to small legal and accounting firms for 20 years. These firms, which have historically relied on check payments, are now considering accepting other forms of payment in their offices. In order to support these companies in transitioning to digital payment methods, AffiniPay enhanced its offerings by acquiring MyCase in 2022. This acquisition allowed AffiniPay to offer expense management services along with a virtual Visa card, which was launched this year.
Looking ahead to 2024, Armstrong emphasized the impact of generative AI on the fintech industry and how it would drive the acceleration of business operations and simplify workflows for professionals. AffiniPay aims to embrace this digital shift by incorporating AI tools into its solutions and solidifying its position as a trusted leader in the industry. Armstrong stressed the importance of strong leadership in navigating these changes, highlighting the need to identify emerging trends and quickly adapt to them.
Armstrong assumed the role of CEO at AffiniPay three years ago, bringing with her experience from previous leadership positions in real estate and consumer technology firms. Her leadership will be crucial in guiding AffiniPay through the evolving landscape of the fintech industry and ensuring the company remains agile and innovative in response to industry trends.
